Arcos Dorados Holding Stock Rating Lowered by Citigroup Inc. (ARCO)

Arcos Dorados Holding (NASDAQ:ARCO) was downgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.

Arcos Dorados Holding (NASDAQ:ARCO) traded down 2.84% on Thursday, hitting $7.705. 114,182 shares of the company’s stock traded hands. Arcos Dorados Holding has a 52 week low of $7.67 and a 52 week high of $12.67. The stock’s 50-day moving average is $9.5 and its 200-day moving average is $9.54.

Arcos Dorados Holding (NASDAQ:ARCO) last released its earnings data on Tuesday, August 5th. The company reported ($0.47) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.40. The company had revenue of $917.90 million for the quarter, compared to the consensus estimate of $951.90 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was down 7.2% on a year-over-year basis. Analysts expect that Arcos Dorados Holding will post $-0.06 EPS for the current fiscal year.

A number of other firms have also recently commented on ARCO. Analysts at Zacks downgraded shares of Arcos Dorados Holding from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 7th. They now have a $7.10 price target on the stock. Separately, analysts at HSBC downgraded shares of Arcos Dorados Holding from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 22nd. They now have a $7.00 price target on the stock, down previously from $9.00. Finally, analysts at Bank of America upgraded shares of Arcos Dorados Holding from an “underperform” rating to a “buy” rating in a research note on Monday, June 9th. They now have a $14.16 price target on the stock, up previously from $9.61. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.82.

Arcos Dorados Holdings Inc is an Argentina-based company engaged in the operation of McDonald’s franchisees.